Ever feel like you're missing something big in your business? 🤔

Well, you might be – and it could cost you millions.

Did you know there's a $2.3 trillion tidal wave headed our way? 

No, I'm not talking about a stock market crash or a new housing market bubble (though those are real concerns too).

I'm talking about the massive transfer of wealth that's about to happen as baby boomer business owners retire en masse.

The Boomer Business Boom: A Wake-Up Call 🚨

Here's a stat that'll knock your socks off: Baby boomers own about 2.3 million small businesses in the US. 

That's nearly half of all privately held firms.

And get this – they're retiring at a rate of about 10,000 per day. 

Yes, you read that right. Per day. 

This "silver tsunami" means you'll be competing with millions when it's time to sell your business.

Now, I'm not saying this to scare you (okay, maybe a little). 

But here's the thing: whether you're planning to sell now or in 5-7 years, you need to start preparing yesterday.

5 Signs It's Time to Start Planning Your Exit 🚪

So how do you know if it's time to start thinking about your exit strategy? 

Here are five telltale signs:

1. You're Feeling Burnt Out 😫

Remember when you first started your business? 

The excitement, the endless energy, the 3 AM light bulb moments?

If those feelings have been replaced by dread and exhaustion, it might be time to start planning your exit.

Burnout isn't just bad for your health – it's bad for your business value too.

One client of mine told me after 6 months of working with me that had he not engaged with me as a business coach to help he, he’d have already quit.

“I’d be delivering pizzas right now if I hadn’t hired you,” he told me over dinner.

I was floored!

I’m so glad he didn’t quit and that he recognized burnout was a real issue he needed to address.

2. Your Industry is Changing Rapidly 🌪️

Remember Blockbuster? 

They were the kings of video rental. Until they weren't.

If your industry is facing major disruptions (hello, AI!), it might be time to start thinking about your exit before your business becomes the next Blockbuster.

3. You've Hit a Growth Plateau 📊

If your business growth has flatlined and you're out of ideas to kickstart it, it might be time to bring in fresh blood.

This doesn't necessarily mean selling immediately, but starting to plan for someone else to take the reins.

4. Your Personal Goals Have Shifted 🎯

Maybe when you started your business, your goal was to become the next Elon Musk.

But now? Maybe you'd rather spend more time with family or pursue that passion project you've been putting off.

If your personal goals no longer align with your business goals, it's time to start planning your exit.

5. You're Becoming "Too Essential" to Operations 🦸‍♂️

This one's tricky because it feels good to be needed. 

But if your business can't function without you, you don't own a business – you own a job.

And jobs are a lot harder to sell than businesses.

The Consequences of Waiting Too Long ⏳

I once knew a business owner – let's call him Bob. 

Bob had built a successful manufacturing company over 30 years. 

When he hit 65, he decided it was time to sell and enjoy retirement.

There was just one problem: Bob was the business. 

He knew every client, oversaw every major decision, and held all the important relationships.

When potential buyers looked at Bob's business, all they saw was risk. 

What if Bob left and all that knowledge and all those relationships went with him?

In the end, Bob had to settle for a much lower price than he'd hoped for. 

All because he waited too long to start planning his exit.

Don't be like Bob.

First Steps Towards Exit Planning 🚶‍♂️

So, what can you do right now to start preparing for your exit?

1. Start documenting your processes

2. Begin delegating more responsibilities

3. Focus on building a strong management team

4. Get your financials in order

5. Start thinking about who your ideal buyer might be

But here's the thing – exit planning isn't just about selling your business. 

It's about building a business that's valuable whether you decide to sell or not.

(Read that again.)

It's about creating a business that works for you, instead of you working for it.

Remember, in the world of business exits, timing is everything. 

Don't wait until it's too late to start planning your grand finale.

The Real Jason Duncan